Residential Income Unit with
New
For Sale
$290,000
1703 STEEPLEBUSH TERRACE Unit A, Mount Laurel, NJ 08054
The residence includes washer and dryer hookups and access to shared community amenities.
Property Size1,220 SF
Days on Market6
Property Features for 1703 STEEPLEBUSH TERRACE Unit A
General Information
Standard status
Active
Size
1,220 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,254
Amenities
fireplace
washer/dryer hookups
outdoor pool
clubhouse
Building Details
Building Size
1,220 SF
Year Built
1989
Construction
garden-style
Listing Agency:
Keller Williams Realty - Medford
Listed By:
Ivy M Cabrera · License #1430012
(609) 932-3422
Source:
Patmckennarealtors
Added: Oct 28
Changed: Oct 31
Last Checked: Nov 1 at 1:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty - Medford
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Investment Insights
Based on property information with market context.
Built in 1989, this garden-style residential unit has a living area with a fireplace and washer and dryer hookups. Shared community amenities include an outdoor pool and clubhouse, with common-area maintenance, building upkeep, and snow removal covered by the association fee.
The community also has landscaped grounds and nearby parks. Grocery stores, healthcare facilities, and dining options are described as a short drive away.
The community also has landscaped grounds and nearby parks. Grocery stores, healthcare facilities, and dining options are described as a short drive away.
Key Highlights
- Built in 1989
- Living area with a fireplace
- Washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,979
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,580
$319.6K
Cap Rate 7%
$228,271
$228.3K
Cap Rate 9%
$177,544
$177.5K
Market Conditions
NOI Build-Up for 1,220 SF
Gross rent
$30.7K $25.20/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$29.1K $23.81/SF
− OpEx
−$13.1K −$10.72/SF
NOI
$16.0K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,580
Cap Rate 7%
$228,271
Cap Rate 9%
$177,544
Alternative Uses
Best Use
Apartment 5plus
$228.3K
$199.7K – $266.3K
NOI $15,979 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.55M
$2.23M – $2.98M
NOI $178,612 @ 7.0% cap · market cap 61.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
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Business Placement
Demographics for 08054, NJ
44,633
Population
19,966
Households
2.2
Avg Household Size
44
Median Age
56%
College-Educated
96%
High-School Grad
21.7 sq mi
ZIP Area
2,057
Density / Sq Mi
$114,629
Median Household Income
$67,986
Median Earnings
$1,966
Median Rent
$341,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The residence includes washer and dryer hookups and access to shared community amenities.
Where is this residential income property located?
The property is located at 1703 STEEPLEBUSH TERRACE Unit A Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Built in 1989; Living area with a fireplace; Washer and dryer hookups
